Gem Diamonds Exec Velloza to Leave

RAPAPORT... Johnny Velloza is set to leave Gem Diamonds, two monthsafter his promotion to deputy CEO and chief operating officer. Velloza will step down on September 15 to become jointCEO of a copper and cobalt company, the miner said Thursday. Gem Diamonds is currently searching for his successor. In theinterim, Gavin Beevers will join the miner as technical adviser on July 1 foran as-yet-undetermined period. The former De Beers technical director has beena member of Gem Diamonds' board for the past 10 years. Velloza will still join Gem Diamonds' board on July 1 in anexecutive capacity, as planned, and will become a non-executive director after heleaves the company.